2. The Ride-On-Wave Company (ROW) produces a line of non-motorized boats. ROW uses a normal costing system and allocates manufacturing overhead using direct manufacturing labor cost. The following data are for 2021 : Inventory balances on December 31, 2021 were as follows: Required: 1. Calculate the manufacturing overhead allocation rate. 2. Compute the amount of under or over allocated manufacturing overhead. 3. Calculate the ending balances in work in process, finished goods, and cost of goods sold if under or over allocated manufacturing overhead is as follows: a) Written off to cost of goods sold